Central Fill Pharmacy Automation Market By Product & Service Type (Equipment, Software, Services), By Vendor (Equipment Vendors, Sales & Consulting Vendors) - Growth, Future Prospects And Competitive Analysis, 2019 – 2027

Central fill pharmacy automation market to exhibit dynamic growth during the forecast period

The global central fill pharmacy automation market is developing competently, expected to grow at a CAGR of 10.1%. Globally, increasing penetration of pharmacy automation products, advancement in robotics & tabletop devices, and growth in overall software & services for enhanced distribution of pharmaceutical drugs will drive the overall market growth. Rising awareness about central fill automation technology along with the launch of integrated software solutions are key factors driving the growth of the central fill pharmacy automation market on a global scale. Advancement in high volume solutions, improved operational efficiency, and minimized costs related to drug inventory and other upfront investments will enhance the overall market growth.

Automated equipment systems expected to register higher growth by the end of 2027

In 2018, the medication dispensing systems in the equipment segment accounted for the largest share in the global market. Increased focus on packaging and automation activities for enhanced optimization and workflow management will improve the overall dynamics of the central fill pharmacy automation including increased accuracy, order archives, and traceability. Additionally, demand for specialty drugs along with biologics will upsurge the growth of the market. Expansion of pharmacy management software, group purchasing, packaging, alternate site pharmacy solutions, consulting services, and supply chain solutions will drive the demand on a global scale. For e.g. SP Central Workflow Integration, McKesson High Volume Solutions, SynMed® Ultra (automated blister pack central fill) and others.

Equipment vendors to witness a significant CAGR

Pharmacy automation equipment vendors are expanding their manufacturing capacity in the retail chain, long term care inpatient and outpatient hospital settings. Additionally, vendors and top suppliers mainly for focused on packaging technology, medication dispensing, design, staff efficiency, training along with streamlining automated pharmacy workflow. Acquisitions, partnerships and new product & services expansion will further spur revenue growth during the forecast period. For instance, in Dec 2018, TCGRx acquired Parata Systems to further expand its pharmacy technology solutions in the U.S. market. Moreover, in Aug 2017, Synergy Medical launched Synmed Ultra pharmacy automation for high throughput dispensing of medications in blister packs (fill over 100 multi-dose blister packs/hour with hundreds of different tablet types).

Increased research and development with strong product pipelines in the developed regions

Major players in the central fill pharmacy automation market are TCGRx (Parata Systems), Scriptpro, ARxIUM, Inc, Cornerstone Automation Systems, LLC (CASI), Omnicell, Inc, Tension Packaging & Automation, RxSafe, LLC, Innovation Associates, Inc., Kuka AG, R/X Automation Solutions, Capsa Healthcare, McKesson Corp., Simplimatic Engineering Holdings LLC, Conveyco Technologies Inc., Synergy Medical and others. Top service providers are developing with advanced expertise with integrated automated pharmacy solutions along with superior distribution channels. Acquisitions, technology expansion, partnerships, and improved R&D will invent the development of central fill pharmacy automation market in the developing nations in the near future.

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall central fill pharmacy automation market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report:

• What are the current market trends and dynamics in the central fill pharmacy automation market and valuable opportunities for emerging players?
• Which segment accounts for the fastest CAGR during the forecast period?
• Which product & service type segment holds a larger market share and why?
• Are low and middle-income economies investing in the central fill pharmacy automation market?
• What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?